Iran's Crypto Mining Devours 14% of Power Deficit During Peak Summer Months
A parliamentary report from Iran's Majlis Research Center has shed light on the significant impact of cryptocurrency mining on the country's electricity supply. According to the report, crypto mining operations consume between 930 and 1,200 megawatts of electricity during peak summer months, accounting for roughly 14% of Iran's power deficit.
Averaged across the full year, crypto mining accounts for about 6% of the national electricity shortfall. The report also estimates that sustaining mining operations at this scale requires approximately 2 billion liters of diesel fuel annually, translating to a financial burden of roughly $1.5B on the national grid.
The report highlights the economic toll of subsidized electricity rates, which allow miners to operate at a cost of around $1,300 per Bitcoin in Iran, compared to a global average of approximately $87,000.